Daily Market Reports | Mar 31 2025
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
ALL ARU BRE BTR CAT CLV DJW EBR GOR HAS HLS ILU KMD (2) LNW LYC MAH MEI NZK PDN PNI SDV TRS TTM VHM WES WHF
ALL ARISTOCRAT LEISURE LIMITED
Gaming - Overnight Price: $64.92
Jarden rates ((ALL)) as Neutral (3) -
Jarden describes a fiercely competitive Australian gaming landscape, highlighted at the recent Australasian Hospitality and Gaming Expo.
Despite subdued conditions in Victoria and patchy performance in New South Wales, overall industry sentiment remains upbeat.
Aristocrat Leisure is defending its turf with a major cabinet refresh and multi-game jackpot innovations, the report highlights, while Light & Wonder is firing on all cylinders, boasting the highest number of top-performing titles and expanding its studio base across the region.
The brokerage retains a Neutral rating on Aristocrat, with the price target held at $67.
This report was published on March 28, 2025.
Target price is $67.00 Current Price is $64.92 Difference: $2.08
If ALL meets the Jarden target it will return approximately 3% (excluding dividends, fees and charges).
Current consensus price target is $77.36, suggesting upside of 21.3%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 90.00 cents and EPS of 266.40 cents.
At the last closing share price the estimated dividend yield is 1.39%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 24.37.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 266.8, implying annual growth of 30.3%.
Current consensus DPS estimate is 89.8, implying a prospective dividend yield of 1.4%.
Current consensus EPS estimate suggests the PER is 23.9.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 100.00 cents and EPS of 297.20 cents.
At the last closing share price the estimated dividend yield is 1.54%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 21.84.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 296.1, implying annual growth of 11.0%.
Current consensus DPS estimate is 99.8, implying a prospective dividend yield of 1.6%.
Current consensus EPS estimate suggests the PER is 21.5.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
ARU ARAFURA RARE EARTHS LIMITED
Rare Earth Minerals - Overnight Price: $0.18
Canaccord Genuity rates ((ARU)) as Downgrade to Hold from Speculative Buy (3) -
Canaccord Genuity has pushed the timing for NdPr deficits to 2026 on slower growth in EV sales. The broker expects some offset from a rise in rare earth demand for humanoid robotics, but not until the 2030s.
The broker cut forecasts for NdPr oxides until 2030, including -22% decline in FY25 and -23% in FY26. The broker also made significant cuts to forecasts for Dysprosium and Terbium throughout the forecast period.
Overall, stronger pricing momentum is required to drive broader equity moves in the rare earths sector, the report suggests.
Target price for Arafura Rare Earths cut to 20c from 30c. Rating downgraded to Hold from Speculative Buy.
This report was published on March 27, 2025.
Target price is $0.20 Current Price is $0.18 Difference: $0.02
If ARU meets the Canaccord Genuity target it will return approximately 11% (excluding dividends, fees and charges).
Market Sentiment: 0.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BRE BRAZILIAN RARE EARTHS LIMITED
Rare Earth Minerals - Overnight Price: $1.75
Canaccord Genuity rates ((BRE)) as Speculative Buy (1) -
Canaccord Genuity has pushed the timing for NdPr deficits to 2026 on slower growth in EV sales. The broker expects some offset from a rise in rare earth demand for humanoid robotics, but not until the 2030s.
The broker cut forecasts for NdPr oxides until 2030, including -22% decline in FY25 and -23% in FY26. Significant cuts to forecasts for Dysprosium and Terbium have also been made throughout the forecast period.
Overall, the broker believes stronger pricing momentum is required to drive broader equity moves in the rare earths sector.
Target price for Brazilian Rare Earths cut to $5.00 from $5.50. Speculative Buy.
This report was published on March 27, 2025.
Target price is $5.00 Current Price is $1.75 Difference: $3.25
If BRE meets the Canaccord Genuity target it will return approximately 186% (excluding dividends, fees and charges).
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BTR BRIGHTSTAR RESOURCES LIMITED
Gold & Silver - Overnight Price: $0.02
Taylor Collison rates ((BTR)) as Speculative Buy (1) -
Taylor Collison notes Brightstar Resources completed the first gold pour at the Laverton mill under the Ore Purchasing Agreement with Genesis Minerals ((GMD)).
The broker believes the company offers an attractive option with this production and 3Moz mineral resources. Near-term catalysts include DFS study in 1H2025 that will likely include a classification upgrade of existing resources.
Target price of 4.5c and Speculative Rating.
This report was published on March 21, 2025.
Target price is $0.05 Current Price is $0.02 Difference: $0.026
If BTR meets the Taylor Collison target it will return approximately 137% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Taylor Collison forecasts a full year FY25 EPS of 0.20 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.50.
Forecast for FY26:
Taylor Collison forecasts a full year FY26 EPS of 0.50 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 3.80.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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